Okay to start off I would estimate around 120$ for this costume. Take a trip to http://www.superfansuits.com/ and get at least a black one I'd probably get a blue one too to make the process easier. Then I'd take a visit to Wal-Mart/Good-will and look for some rain/rubber boots with this you would be able to A. Get the right color. B. Spray paint the boots. C. Put the spandex on the boot. C. May not work but it's worth a shot. Same thing goes for the gloves. For the actual costume logo Just sew/glue it on using craft foam or maybe like a fabric/patch. You can pick up the mask plenty of places. As for the wig it's fairly basic so it should be easy to find in normal stores or something you can style into it. If not you can always use your own hair.

First off, thank you for your suggestions! I'm really at a loss and at the very least I have some direction now. I do have some questions to ask for clarification, though.

So do you suggest slicing off the head of the black suit? I would be concerned that the rest of the suit might unravel from the top down if I did that. The same goes for the blue suit (if I buy it) since I would have to chop off the legs up to the thigh and the arms up to the shoulder.